Comments on: The Top Ten Ways for the Millenial Generation To Earn Alternative Income

By: 47 Decent Lifestyle Design Resources | Project Mojave Blog

47 Decent Lifestyle Design Resources | Project Mojave Blog — Tue, 06 Apr 2010 13:31:39 +0000

[...] Erik Folgate’s Top Ten Ways for the Millenial Generation To Earn Alternative Income [...]

By: Fulfilling Your Passions Without Making A Career Transition — Erik Folgate

Fulfilling Your Passions Without Making A Career Transition — Erik Folgate — Fri, 05 Jun 2009 15:16:22 +0000

[...] obligation is to always provide for your family. Don’t take a career risk unless you have an alternative source of income to pay for a roof over your head and put food on the [...]

By: Erik Folgate

Erik Folgate — Tue, 18 Mar 2008 00:41:44 +0000

okay semantics police, I’ll change it to “ALTERNATIVE” income. that’s what my thought was, if you want me to be honest, I thought passive income would be searched for more than alternative income.

my feeble efforts at SEO have failed me because you all snuffed it out!

By: Lazy Man and Money

Lazy Man and Money — Tue, 18 Mar 2008 00:06:03 +0000

Like the others above, I see nothing passive about repairing a computer or buying and selling antiques.

The rental property could work, but it’s such a long-term goal to A) get the money to pay for a place in cash and B) find exactly the right property that it’s not really worth doing. If you start at 20, you’ll be 40 by the time you can implement this idea (in some parts of the country). You’d probably be better off investing in REITs.

By: Patrick

Patrick — Sun, 16 Mar 2008 14:25:04 +0000

I’ll agree with Brip Blap on this one – Passive income is more like earned interest or dividend payments. But the I love the angle you are going for, and I am trying to do several of these. The blog and websites are my first step. So far, the result has been fairly good.

I think everyone should strive to have some form of passive or alternative income just to lessen their reliance on their day job, or hedge their bets, should something happen. Great article.

By: Brip Blap

Brip Blap — Wed, 12 Mar 2008 10:47:18 +0000

Good list, although I think you’re talking alternative income, not passive. I’m a contract consultant and I can tell you there is NOTHING passive about consulting or contracting – it requires a lot of work, as do rental properties, maintaining blogs, investing in the stock market, etc.

True passive income is really only going to result if you create something of value such as a book or a song or an invention. I don’t think you could count on passive income from public speaking – if you aren’t speaking, you aren’t getting paid. Those are all great ideas for alternative income or even ways of setting your life up for multiple streams of income instead of just working at a single job – but most of them are definitely not passive!